Fresh Fish - Guyana

Guyana

Highlights

Revenue in the Fresh Fish market amounts to US$19.29m in 2024. The market is expected to grow annually by 5.89% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$57bn in 2024).
In relation to total population figures, per person revenues of US$23.54 are generated in 2024.
In the Fresh Fish market, volume is expected to amount to 1.08m kg by 2029. The Fresh Fish market is expected to show a volume growth of 3.0% in 2025.0.
The average volume per person in the Fresh Fish market is expected to amount to 1.2kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Fresh Fish Market in Guyana has seen steady growth due to the convenience of online services, increasing health awareness, and technological advancements. However, this growth rate is minimal due to limited access to resources and infrastructure challenges.

Customer preferences: As consumers in Guyana become more health-conscious, there is a growing demand for locally-sourced, fresh fish in the Fish & Seafood Market within The Food market. This trend is driven by a desire for healthier and more sustainable food options. Additionally, there is a noticeable shift towards online shopping for fish and seafood, as consumers seek convenience and safety during the ongoing pandemic. This has led to the emergence of online fish markets and delivery services, catering to the changing preferences of consumers.

Trends in the market: In Guyana, the Fresh Fish Market of the Fish & Seafood Market within The Food market is seeing a rise in demand for sustainably sourced, locally caught fish. This trend is driven by the increasing awareness and demand for ethically and environmentally responsible products. In addition, there is a growing focus on traceability and transparency in the seafood industry, leading to an increase in certifications and labeling initiatives. These trends have significant implications for industry stakeholders, as they must adapt to meet consumer demands and navigate changing regulations. This may require investment in sustainable fishing practices and technology, as well as partnerships with certification bodies to ensure compliance. Overall, the trajectory of these trends indicates a shift towards a more responsible and consumer-driven seafood market in Guyana.

Local special circumstances: In Guyana, the Fresh Fish Market of the Fish & Seafood Market within The Food market is heavily influenced by the country's unique geography and cultural practices. With its abundant water resources and coastal location, the market is dominated by locally caught fish and seafood, such as tilapia and shrimp. Additionally, the country's diverse population, with influences from African, Indian, and indigenous cultures, leads to a wide variety of traditional dishes and cooking methods, shaping consumer preferences in the market. Moreover, the government's strict regulations on fishing and seafood safety also play a significant role in shaping market dynamics.

Underlying macroeconomic factors: The Fresh Fish Market of the Fish & Seafood Market within The Food market in Guyana is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. The market performance is closely tied to the overall economic health of the country, with fluctuations in GDP growth, inflation rates, and exchange rates impacting consumer purchasing power and demand for fresh fish products. Additionally, government policies and investments in the fishing industry, as well as trade agreements and regulations, can greatly affect the availability and cost of fresh fish in the market. As Guyana's economy continues to grow and develop, the Fresh Fish Market is expected to see steady growth, driven by increased consumer demand and favorable economic conditions.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.